AbbVie, once anchored securely by the monumental success of Humira, witnessed its vessel facing turbulent waters as the stalwart drug relinquished its patent shield in 2023. The $21 billion behemoth, Humira, once the cornerstone of AbbVie's fiscal fortress, now faced the tempest of market competition as its patent protection waned.
The quarter that followed witnessed a formidable decline in global Humira sales, a precipitous 40% plunge that reverberated across the industry. Yet, amidst the tumult, AbbVie's helmsmen stood steadfast. Enter Skyrizi and Rinvoq, the twin titans of AbbVie's immunology arsenal. From their humble beginnings, these fledgling medications burgeoned into formidable juggernauts. Their ascent, from a modest $130 billion in 2019 to a staggering $273.6 billion in the previous fiscal year, heralded a new era for AbbVie.
But lo, there's more to this tale than meets the eye. Beyond the realm of numbers lies the siren song of dividends, beckoning investors with promises of passive income. A tantalizing 3.34% dividend yield, a testament to AbbVie's commitment to rewarding its shareholders, amplifies the allure of this investment.
Market Info as of 04/04/2024
Market Cap: 313.99 billion USD
Current Stock Price: $177.33
52-week range: High - $182.89 & Low - $130.96
Earnings Per Share: $2.72 for 2023 (Fiscal Year) which is down 58.97% from 2022
Dividend Yield: 3.34% annual, $1.55 quarterly